Apple Inc. (NASDAQ:AAPL) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 7.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,730,875 shares of the iPhone maker’s stock after buying an additional 195,398 shares during the period. Apple comprises about 2.3% of Connor Clark & Lunn Investment Management Ltd.’s investment portfolio, making the stock its 6th largest holding. Connor Clark & Lunn Investment Management Ltd.’s holdings in Apple were worth $476,838,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Donald L. Hagan LLC boosted its stake in Apple by 0.3% during the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock valued at $3,181,000 after purchasing an additional 61 shares during the last quarter. Goodwin Daniel L boosted its stake in Apple by 0.5% during the 1st quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock valued at $2,230,000 after purchasing an additional 62 shares during the last quarter. Opus Capital Group LLC boosted its stake in Apple by 0.3% during the 1st quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock valued at $3,332,000 after purchasing an additional 63 shares during the last quarter. Norwood Financial Corp boosted its stake in Apple by 0.9% during the 1st quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock valued at $1,227,000 after purchasing an additional 65 shares during the last quarter. Finally, Investors Research Corp boosted its stake in Apple by 0.4% during the 1st quarter. Investors Research Corp now owns 16,117 shares of the iPhone maker’s stock valued at $2,814,000 after purchasing an additional 66 shares during the last quarter. 57.72% of the stock is owned by institutional investors and hedge funds.

Apple Stock Up 0.9 %

AAPL opened at $155.96 on Thursday. The company has a fifty day moving average price of $157.75 and a 200-day moving average price of $156.51. The firm has a market capitalization of $2.51 trillion, a P/E ratio of 25.74, a price-to-earnings-growth ratio of 2.02 and a beta of 1.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. Apple Inc. has a one year low of $129.04 and a one year high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last announced its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. During the same period in the previous year, the business earned $1.30 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post 6.1 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.59%. Apple’s dividend payout ratio (DPR) is presently 15.18%.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the transaction, the senior vice president now directly owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the sale, the senior vice president now directly owns 427,334 shares in the company, valued at $70,411,823.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AAPL. Itaú Unibanco began coverage on Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price on the stock. Bank of America cut their target price on Apple from $200.00 to $185.00 in a research note on Tuesday, July 26th. Citigroup boosted their target price on Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Wedbush boosted their target price on Apple from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 17th. Finally, Sanford C. Bernstein set a $170.00 price target on shares of Apple in a report on Tuesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $182.00.

About Apple

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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